# How to Make a College Budget in Excel

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Making a budget for anything helps us a lot to manage money. Especially for students, while studying in colleges or universities, it’s an important task to make a budget for each semester. Because most of the students had to pass a struggling time for money, especially while studying abroad. Making a budget in excel is a quite good choice because Excel has a lot of features that help to manage and understand budgets. I hope this article will be a proper guide to make a college budget in Excel.

You can download the free Excel workbook from here to practice or use it for making your college budget.

## Considerable Sections to Make a College Budget in Excel

To make a college budget, we’ll explain it in the below 4 sections.

### Calculate Monthly Income

First, we’ll calculate the monthly income of a student to make a college budget.

• For that, I made a dataset where I will place the income sectors and amounts. And applied some formats to look it better. • Here, I placed the amount of every sector and then used the SUM function in C8 to find the total income. • Later, I used conditional formatting to represent the range of each income amount visually. It will help us to understand the amount range visually at a glance. • Here’s the final outlook of the monthly income. If you have more income sectors then add them. Read more: How to Do Budgeting and Forecasting in Excel (2 Suitable Ways)

### Calculate Monthly Expenses

Now, we’ll calculate the monthly expenses excluding the semester expenses.

• Here, I have added all possible monthly expense sectors like house rent, phone bill, internet bill, etc. • After that, placed the sector’s amount and again used the SUM function to find the total expenses in C19. • Next, I applied conditional formatting to the amounts like the previous section. • It’s the final outlook. Now it’s looking pretty cool, right? ### Calculate Each Semester’s Expenses

Each college has a different duration for a semester. It can be 4,5 or 6 months. However, first, we’ll calculate the total cost of a semester here.

Steps:

• In a new sheet, I have placed the possible expense sectors of a semester. • Later, applied the SUM function to find the total semester cost in Cell C8. • Again applied the same conditional formatting to the amounts. The final outlook after applying the conditional formatting. ### Summary of College Budget

In our last section, we’ll now see the summary of our income and expense calculations. Let, the semester duration is 6 months. Steps:

• As we have only one section of total income, so I placed it directly in Cell B5 by using the following formula-
`='Monthly Income'!C8` • Then placed the monthly expenses in Cell D5, using the formula given below-
`='Monthly Expenses'!C19` now, we’ll calculate each semester’s cost by dividing the total cost of a semester by semester duration.

• Insert the following formula in Cell D6
`='Semester Expenses'!C8/6` • Finally, just used the SUM function to get the total expenses including each semester’s cost. • Lastly, to get the difference between the income expense, applied the manual formula as given below-
`=B5-D7` Read more: How to Prepare Annual Budget for a Company in Excel

## Conclusion

I hope the above procedures will be good enough to make a college budget in Excel. Feel free to ask any questions in the comment section and give me feedback. Visit ExcelDemy to explore more.

## Related Articles #### Md. Sourov Hossain Mithun

Hello! I am Md. Sourov Hossain Mithun. Welcome to my profile. Currently, I am working at Exceldemy as an Excel and VBA Content Developer. Excel is amazing software. Here I will post excel related useful articles. I am a graduate of Bangladesh University of Engineering and Technology. I love to learn new things and work with them. Thank you.

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